Growing confidence and clearer rules drive mainstream adoption, led by the U.S. and emerging markets
Retail participation in cryptocurrency markets has surged dramatically over the past two years, with global retail crypto transactions rising by more than 125% between January and September 2025, according to a new TRM Labs Crypto Adoption and Stablecoin Usage Report. The findings highlight how regulatory clarity and institutional participation are fueling a new wave of practical crypto use cases — from payments and remittances to preserving value amid inflation and capital restrictions.
“The U.S. market’s two consecutive years of double-digit expansion reflect not just enthusiasm, but the compounding effect of regulatory clarity and political commitment,” TRM Labs noted in the report
Interestingly, TRM Labs found that even nations enforcing strict crypto bans are seeing strong grassroots adoption. Countries like Bangladesh, Algeria, and Egypt, despite restrictions, rank within the top 50 globally for adoption. The report suggests that “blanket bans are ineffective” and often push individuals toward alternative financial tools rather than deterring usage.
“Ongoing capital controls and limited access to foreign exchange have made crypto an attractive option for individuals seeking alternatives to traditional systems,” TRM Labs said.
Regulatory Clarity Spurs Retail Growth
The U.S. has emerged as a key driver of this expansion, with new legislative efforts — including the GENIUS Act focused on stablecoins and the CLARITY Act defining digital asset market structures — helping to create a more predictable environment for both companies and consumers.
“Crypto’s regulatory maturity has given retail users confidence to transact freely and safely,” said one industry analyst familiar with the data. “It’s no longer just speculation — it’s integration into the global payments landscape.”
Meanwhile, countries such as Pakistan are experiencing a similar boom in adoption, supported by friendly lawmakers and new institutional frameworks. The government’s creation of the Pakistan Crypto Council and a proposed dedicated crypto regulator have attracted widespread interest from retail users. TRM Labs projects that Pakistan’s crypto user base could reach 28 million by 2026, signaling one of the fastest-growing markets globally.
The report also underscores the growing role of stablecoins as a bridge between digital and traditional finance. Their stability and ease of use have made them a cornerstone for cross-border payments and inflation hedging in volatile economies.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.